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IG Design CEO steps down after Americas divestment
(Sharecast News) - IG Design Group announced on Friday that its chief executive officer, Paul Bal, had stepped down with immediate effect, following the successful sale of the company's DG Americas division. Chair Stewart Gilliland would take over as executive chair on an interim basis, while the board searched for a permanent successor.
The move cme as the AIM-traded gifting and creative products group continued to reshape its operations, with the divestment of DG Americas marking a key milestone in its ongoing transformation.
"We would like to thank Paul for his commitment to the group since 2022 and his hard work to deliver the transformation of the group, which has dominated much of his tenure," said Gilliland.
"The board would like to formally acknowledge and thank Paul for his role in the recent successful divestiture of DG Americas ... which has protected the wider group from further financial and operational impact."
In his departing statement, Bal said: "I leave the business with my best wishes, pleased that we have protected the wider business with the disposal of DG Americas and knowing that the focus of the team and the board is firmly on driving the success of DG International."
IG Design also reiterated that its audited results for the year ended 31 March would be released later than its usual reporting timetable, with a further announcement to follow in due course.
At 1234 BST, shares in IG Design Group were down 1.11% at 89p.
Reporting by Josh White for Sharecast.com.
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